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Garden City, NY 11530
Long Island Will & Trust Lawyers
Providing for Your Loved Ones and Special Gifts to Charities
Determining how your assets and property should be handled during your lifetime and after your death is an important decision. Providing for your loved ones and transferring funds require many important steps to ensure protection of your assets. At the law office of Fleck, Fleck & Fleck, we have over 40 years of experience handling estate planning, wills and trusts.
New York and Florida Estate Planning
The estate planning process prepares your financial and personal affairs in the event of mental incapacity or death. This process can prove to be a complex and intricate one, and it is advisable to seek legal representation from an experienced estate planning lawyer. With our experience in helping hundreds of individuals and families prepare their estate plan, we can provide helpful guidance and ensure that all the paperwork is conducted correctly. Our firm has the ability to effectively provide necessary documents while you reside in either New York or Florida. These include durable powers of attorney, health care proxies, and living wills. Our firm ensures that you will effectively provide for your loved ones and special gifts to charitable institutions and to people who have disabilities.
Long Island Will and Trust Attorneys
A will is commonly created in order to thoughtfully transfer assets to specific family members or others and to avoid the statutory distribution of property that occurs if no will exists. To create a valid will, an individual must be of a sound mind and at least 18 years of age. When drafting the will, it is also important to fully understand the relationship between yourself, any people that may care for you, as well as immediate family members. Understanding these relational dynamics helps determine the appropriate roles for each person included in the will.
A trust is a document drafted by the grantor/trustee for a beneficiary. There are a few different forms of trusts, including living trusts, irrevocable trusts and testamentary trusts.
- A revocable living trust is created while you are still alive and can be amended during the grantor’s life, avoiding any future probate process.
- An irrevocable trust cannot be altered or terminated, and is usually an effective estate tax reduction tool.
- A testamentary trust typically involves a probate process as it is a trust established through an already determined will.
- A special needs trust is provided for people who wish to leave a gift to a person who receives governmental assistance for a disability.
In each will or trust case, we review our clients assets, the tax laws that apply to their states and what their wishes are in leaving the property in either a will or trust.